Finley Financial LLC Has $171,000 Position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO)

Finley Financial LLC increased its holdings in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 53.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,960 shares of the company’s stock after acquiring an additional 1,380 shares during the quarter. Finley Financial LLC’s holdings in Credo Technology Group were worth $171,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRDO. Nuveen LLC acquired a new position in shares of Credo Technology Group during the 1st quarter worth approximately $52,636,000. Polar Capital Holdings Plc grew its holdings in Credo Technology Group by 382.1% in the 4th quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company’s stock valued at $97,527,000 after buying an additional 1,150,084 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Credo Technology Group by 441.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 975,935 shares of the company’s stock valued at $65,594,000 after buying an additional 795,751 shares in the last quarter. Bank of America Corp DE grew its holdings in Credo Technology Group by 281.7% in the 4th quarter. Bank of America Corp DE now owns 391,446 shares of the company’s stock valued at $26,309,000 after buying an additional 606,850 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Credo Technology Group in the 1st quarter valued at $24,329,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Credo Technology Group Trading Down 3.4%

Credo Technology Group stock opened at $121.13 on Thursday. Credo Technology Group Holding Ltd. has a 12 month low of $24.08 and a 12 month high of $128.56. The company has a market capitalization of $20.79 billion, a PE ratio of 448.63, a P/E/G ratio of 2.25 and a beta of 2.59. The stock has a 50-day moving average price of $95.94 and a two-hundred day moving average price of $68.01.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Monday, June 2nd. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Credo Technology Group had a return on equity of 8.77% and a net margin of 11.95%. The business had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $159.59 million. During the same quarter last year, the firm posted $0.07 earnings per share. The firm’s revenue was up 179.6% on a year-over-year basis. As a group, analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Credo Technology Group news, CEO William Joseph Brennan sold 46,444 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $106.87, for a total value of $4,963,470.28. Following the completion of the sale, the chief executive officer owned 393,338 shares of the company’s stock, valued at approximately $42,036,032.06. This trade represents a 10.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $107.12, for a total value of $5,891,600.00. Following the completion of the sale, the chief technology officer directly owned 7,108,961 shares of the company’s stock, valued at $761,511,902.32. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,274,583 shares of company stock worth $113,118,257. Company insiders own 16.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus upped their price objective on Credo Technology Group from $80.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 18th. Roth Capital set a $95.00 price objective on Credo Technology Group and gave the company a “buy” rating in a report on Friday, June 13th. Wall Street Zen lowered Credo Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Noble Financial raised Credo Technology Group to a “strong-buy” rating in a report on Tuesday, June 3rd. Finally, TD Cowen increased their target price on Credo Technology Group from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Credo Technology Group presently has an average rating of “Buy” and an average price target of $91.27.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.